AGL announces sales agreement for PNG assets

AGL Energy has executed sales agreements for its PNG oil and gas assets, including its 3.6% stake of the $US11 billion PNG LNG project, to an undisclosed party today for a total of $A1.1 billion (K1.87 billion) after closing out oil hedges.

AGL announces sales agreement for PNG assets AGL announces sales agreement for PNG assets AGL announces sales agreement for PNG assets AGL announces sales agreement for PNG assets AGL announces sales agreement for PNG assets

The sale and purchase agreement for AGL's portfolio was $US800 million, and no capital gains tax is payable on the transaction in PNG or Australia.

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